ĆIRIĆ:Construction of new smelter in Bor to start at the beginning of year 2010

- Investing and installation of equipment for new smelter in Mining-Smelter Basin (RTB) "Bor" should start at the beginning of 2010 - said Nebojša Ćirić, the State Secretary for Economy and Privatization of Serbia.

He said in the interview for Beta agency that, according to the preliminary study, the new smelter, worth about 130m USD, should be built according to Outokumpu technology.

According to his words, RTB will take loan for new smelter, and the guarantee for that loan will be provided by the Government of Serbia.

- Concerning the fact that privatization of RTB can not be realized at this moment under the terms that the state considers important for such strategic company, "the state will help by providing guarantees for investments in construction of new smelter and mining works" - Ćirić pointed out.

The operations of RTB will be rationalized through merger of four companies into one, the problem of state creditors will be resolved, while the problem of debts to commercial creditors whose claims amount to about 100m USD will be resolved through negotiations.